金价再度大涨。 而在深圳水贝黄金珠宝市场，记者采访了多位商家得知，8月30日水贝市场的金饰克价在796元左右，今 日的克价已经涨到806元。 "对于普通消费者来说，克价800元是个分水岭。"在水贝从事黄金珠宝生意的陈经理表示："每次金价突破 800元/克，对零售生意的影响就会放大。不过，我认为金价还有上涨空间。" 与此同时，消费者对高金价似乎也已"习惯"。有消费者表示，金价起伏很正常，从长期来看黄金作为避险 资产的地位依然稳固。陈经理也表示，此前金价高位横盘，回收量也没有明显增加，也可以看出大部分消 费者还是看好金价未来走势。 今日（9月1日），COMEX黄金价格盘中最高涨至每盎司3557.1美元，突破了8月初创下的每盎司3534.1 美元的历史高点；现货黄金逼近今年4月创下的每盎司3500美元历史纪录。受此影响，A股黄金股全线飙 涨，国内多家品牌金饰价格再度超过1000元/克，深圳水贝市场的金饰克价也再度突破800元。 近期，美联储主席鲍威尔的偏鸽派言论以及美国发布的经济数据，均不断强化市场对美联储9月降息的预 期，同时为金价的上涨提供支撑。另外，美国总统特朗普与美联储官员的争端也进一步驱使避险资金从美 元 ...

尽管黄金仍存在上探3500关口的可能性，但追多风险已显着增大。需密切关注美元走势及关键数据发布 （包括非农和9月利率决议），这些事件可能成为市场转折的催化剂。若金价冲高至3500一带并出现顶 部结构信号，将是布局空单的良机。操作上建议以规避追多、捕捉回调为主，严守风控，警惕短期内的 技术性调整。 高晓峰：9.1金银铜齐飞背后，警惕市场突然反转 黄金市场本周初强势不减，周一早盘再度冲高，现货黄金一度触及3489美元，白银突破40.74关口， LME铜价也逼近每吨10000美元大关。本轮上涨主要受美联储降息预期增强及特朗普关税裁定影响，多 头情绪持续发酵。然而，市场快速冲高往往隐含反转风险。从技术面看，黄金日线已出现序列9信号， 美元指数12小时图也显示序列7见底信号，暗示美元随时可能展开反弹，关键支撑位于97.5及97.0水平， 预计反弹窗口将在周二欧盘前后打开。 文/高晓峰专业国际市场点评 ，本人解读世界经济要闻，剖析全球投资大趋势，对原油、黄金、白银等 大宗商品等有深入的研究，以上内容属于个人建议，因网络发文有时效性，仅供参考，风险自担 ...

Report Industry Investment Rating No relevant content provided. Core Views - Copper prices are expected to fluctuate on the strong side. The overseas market is trading on the expectation of the Fed's interest - rate cut and the issue of its independence, with the falling US dollar index supporting the non - ferrous metal market. Fundamentally, copper production is expected to decline in September, and imported copper may increase. Although demand is affected by tariffs and pre - emptive exports, there is an improving trend [10]. - The decline of lithium carbonate prices is limited. After the market rebound, it stimulates downstream purchasing sentiment. With the approaching of the peak season, there is demand support below. However, the market is easily affected by industry news, and attention should be paid to mine disturbances [12]. - For crude oil, it is recommended to short on rallies. Although the price once rebounded due to positive EIA data and market bets on the Fed's interest - rate cut, the consumption peak season is ending, OPEC+ is accelerating production increase, and the supply - demand situation is weakening [13][15]. - Asphalt futures are expected to fluctuate in the near term. The supply - demand situation is weak, with the开工 rate falling, demand restricted by factors such as funds and weather, and limited cost support from crude oil [16]. - PP is expected to fluctuate. The downstream start - up rate is gradually rising, and the peak season may bring some boost. However, the supply is increasing, and the market is affected by global trade wars and anti - involution policies [17][18]. - Plastic is expected to fluctuate. The cost is under pressure, and the supply is increasing. Although the agricultural film industry is improving, the overall demand is still weak, and it is affected by anti - involution policies [19]. - PVC is expected to fluctuate downward. The supply is high, the demand is weak, the export expectation is weakening, and the inventory pressure is large [20][21]. - The fundamental situation of coking coal is becoming looser. The price is under pressure due to imported coal, and the demand is affected by environmental protection and production cuts. Attention should be paid to the progress of coke price adjustments [22]. - Urea prices are expected to fluctuate. In the autumn fertilizer peak season, there is some demand support, but the supply is still abundant, and the market is in a weak supply - demand situation. Attention should be paid to the 1730 - 1780 yuan/ton fluctuation range [24]. Summary by Related Catalogs Futures Market Overview - As of the close on September 1, domestic futures main contracts mostly rose. Polysilicon rose more than 6%, Shanghai silver rose more than 4%, caustic soda and Shanghai gold rose more than 2%, and container shipping to Europe, Shanghai nickel, and stainless steel (SS) rose more than 1%. In terms of declines, glass, coke, and coking coal fell more than 3%, lithium carbonate, iron ore, and soda ash fell more than 2%, and rebar and cotton fell nearly 2%. Stock index futures also showed different degrees of increase [6]. - As of 15:19 on September 1, in terms of capital inflow of domestic futures main contracts, Shanghai copper 2510 inflowed 1.989 billion yuan, Shanghai silver 2510 inflowed 1.741 billion yuan, and Shanghai gold 2510 inflowed 1.488 billion yuan. In terms of capital outflow, CSI 300 2509 outflowed 4.304 billion yuan, CSI 500 2509 outflowed 3.721 billion yuan, and CSI 1000 2509 outflowed 2.89 billion yuan [8]. Individual Variety Analysis Copper - The market opened high and moved low, with a strong - side oscillation. The US PCE price index rose in July. China's copper imports increased in July, and the port inventory of concentrates rebounded. The smelter processing fee decreased recently, and the sulfuric acid price may have reached a high level. Five smelters plan to conduct maintenance in September, and the domestic electrolytic copper output is expected to decline. The import of copper may increase, which will affect the domestic market. The demand is affected by factors such as domestic investment in power grid facilities and the weakening of external demand [10]. Lithium Carbonate - The price opened low and moved low, with a weak - side oscillation. The average price of battery - grade lithium carbonate and industrial - grade lithium carbonate decreased. In July 2025, China's lithium carbonate imports decreased. The domestic production is expected to decline from August to September. The demand is supported by the peak - season stocking of power battery factories, but the market is easily affected by industry news [12]. Crude Oil - It is at the end of the seasonal travel peak season. US crude oil and gasoline inventories continue to decrease, and the refinery operating rate is still high. OPEC+ decided to increase production in September, and Saudi Arabia may lower the official selling price in October. EIA and IEA both raised the forecast of global oil surplus, which will increase the pressure on crude oil in the fourth quarter. Attention should be paid to the progress of the Russia - Ukraine cease - fire agreement negotiation and India's procurement of Russian crude oil [13][15]. Asphalt - The supply - side operating rate decreased last week, and the expected production in September will increase. The downstream operating rate is mostly stable, and the demand is affected by factors such as funds and weather. The inventory - to - sales ratio of asphalt refineries decreased, but it is still at a low level. The cost support from crude oil is limited, and the futures market is expected to fluctuate [16]. PP - The downstream operating rate increased slightly, and the enterprise operating rate is at a neutral level. The production ratio of standard - grade drawn yarn decreased. The petrochemical inventory is at a neutral level. The cost is under pressure due to the end of the consumption peak season and OPEC+'s production increase. The supply is increasing, and the demand is weak, but the peak season may bring some boost [17][18]. Plastic - The operating rate decreased on September 1, and the downstream operating rate increased slightly. The petrochemical inventory is at a neutral level. The cost is under pressure, and the supply is increasing. The agricultural film industry is improving, but the overall demand is still weak [19]. PVC - The upstream calcium carbide price is mostly stable. The supply - side operating rate decreased, and the downstream operating rate is still low. India extended the BIS policy, and the anti - dumping tax on Chinese PVC increased, weakening the export expectation. The social inventory is high, and the demand is affected by the real - estate market. The new production capacity is increasing, and the price is under pressure [20][21]. Coking Coal - The price opened low and moved low, with a downward oscillation. The price of Shanxi coking coal decreased, and the price of Mongolian coking coal increased. The import of coking coal increased in July, and the domestic production decreased due to environmental protection and production cuts. The independent coking enterprises' profit is positive, and the coking coal inventory is decreasing. The coke price increase is not yet finalized, and the steel mill's profit is weakening [22]. Urea - The price opened low and moved low, with a weak - side oscillation. The spot market price fluctuated slightly. The production decreased in August due to maintenance and environmental protection restrictions, but the new production capacity will be put into operation. The demand of compound fertilizer factories decreased due to the September parade, and the industrial demand is affected by the real - estate market. The inventory increased, and the market is expected to fluctuate in the 1730 - 1780 yuan/ton range [24].

截至2025年9月1日，国内黄金市场迎来一波强劲涨势——周大福、六福珠宝等品牌金饰价格均已升至1027 元/克；老凤祥、周生生也紧随其后，报1025元/克。单周涨幅普遍超过15元/克！ 与此同时，国际金价同样表现抢眼，COMEX黄金主力合约价格一度触及3552.4美元/盎司，刷新历史最高 纪录。现货黄金也一度站上3480美元/盎司，正在尝试冲击新高！ 一是美联储降息预期强化： 市场对美联储9月降息25个基点的概率超过85%.美联储主席鲍威尔此前暗示即使通胀存在上行风险，仍对 降息持开放态度。低利率环境通常利好黄金，因其不产生利息，机会成本较低。 二是避险需求激增： 特朗普总统对美联储理事库克的免职风波，引发市场对美联储独立性的担忧，部分投资者转而买入黄金寻 求避险。 在黄金大黑马再度驰骋的前夕，巨象金业特奉上丰厚奖赏，助您轻松上车把握盈机！ 金价为何持续攀升？ 此外，中东局势（如以色列与胡塞武装的冲突）和俄乌局势尚未出现新的和谈进展，也加剧了市场避险情 绪。 现货黄金蓄势待发，把握本轮机遇迅速上车！ 当前形势下，多家金融机构持续看好黄金：瑞士银行已将2026年上半年国际金价目标价上调至3700美元/盎 司；美 ...

Report Industry Investment Ratings - **Bullish**: Gold, Copper, Palm Oil, Rapeseed Oil, Cotton, Sugar, Logs [1] - **Bearish**: PVC Pipe, Galvanized Pipe, Glass, Soda Ash, Coking Coal, Coke, Crude Oil, Fuel Oil, Live Pigs [1] - **Sideways**: Aluminium, Alumina, Zinc, Nickel, Stainless Steel, Tin, Industrial Silicon, Polysilicon, Lithium Carbonate, Rebar, Hot Rolled Coil, Iron Ore, Cotton Yarn, Paper Pulp, Asphalt, Styrene, PTA, Naphtha, Short Fiber, Urea, PF, PVC, PG, Container Shipping European Line [1] Report's Core View - After the continuous strong and volume - increasing rise of stock index futures, capital flow amplifies market volatility. With the approaching of key macro - event nodes in September, the index is expected to fluctuate more, and it is recommended to moderately reduce positions and adjust the layout to be mainly long [1]. - Asset shortage and weak economy are beneficial for bond futures, but the central bank's short - term interest - rate risk warning restricts the upward space [1]. - Multiple factors drive the prices of different commodities. For example, the expectation of Fed rate cuts and supply - demand situations affect metal prices; seasonal factors, production, and consumption situations influence agricultural product prices; and supply - demand, policy, and geopolitical factors impact energy and chemical product prices [1]. Summary by Related Catalogs Macro - finance - Stock index futures may experience increased volatility in September, and it is advisable to reduce positions and focus on long positions [1]. - Asset shortage and weak economy favor bond futures, but short - term interest - rate risk warning restricts the upside [1]. Metals - **Precious Metals**: Gold is boosted by safe - haven demand and rate - cut expectations [1]. - **Base Metals**: - Copper is expected to be strong due to Fed rate - cut expectations and tight supply [1]. - Aluminium prices are volatile under domestic consumption off - season and Fed rate - cut expectations [1]. - Alumina has weak fundamentals, but there are opportunities to go long in the far - month contracts [1]. - Zinc prices have limited downside, and short - selling should be cautious [1]. - Nickel and stainless - steel prices are affected by macro - sentiment, Fed rate - cut expectations, and supply - demand in the short term [1]. - Tin prices are trending well in the short term due to seasonal maintenance and improved macro - sentiment [1]. - **Ferrous Metals**: - Rebar, hot - rolled coil, and iron ore have neutral valuations, unclear industrial drivers, and warm macro - drivers [1]. - PVC pipe and galvanized pipe are bearish due to long - term anti - involution, weak short - term fundamentals, and high inventory [1]. - Glass and soda ash are under pressure due to supply surplus [1]. - Coking coal and coke have weakening fundamentals and are expected to be weak [1]. Agricultural Products - Soybean oil is re - priced due to factors such as reduced soybean arrivals, consumption season, and trade flow [1]. - Rapeseed oil prices are supported by reduced production and supply - reduction expectations [1]. - Cotton has a near - month squeeze logic, and the 01 contract has limited upside [1]. - Sugar is running strongly but with limited height [1]. - Corn is expected to oscillate at a low level in the short term, and new - grain listing should be monitored [1]. - MO1 has limited downside due to import - cost support [1]. - Paper pulp's 11 - 1 reverse spread can be considered [1]. - Logs are expected to oscillate between 790 - 810 yuan/m³ [1]. - Live pigs are bearish due to increased supply and reduced cost [1]. Energy and Chemicals - Crude oil and fuel oil are affected by factors such as India's procurement change, OPEC+ production increase, and tariff issues [1]. - Asphalt's short - term supply - demand contradiction is not prominent and follows crude oil [1]. - Styrene is affected by rainfall, cost, and inventory factors [1]. - PTA's production has recovered, and profits have been repaired [1]. - Naphtha and related products are affected by industry reform and supply - demand changes [1]. - Short fiber has increased factory maintenance and growing warehouse receipts [1]. - Urea has limited upside and cost - end support [1]. - PF and PVC are expected to oscillate weakly [1]. - PG is affected by multiple factors such as capacity reduction, trade, and supply - demand [1]. - Container shipping European Line's freight rate is expected to decline [1].

经历连续多日拉涨，国际金价再度刷新历史高点。 9月1日上午，国际现货黄金高开。COMEX黄金价格盘中最高冲抵3552.4美元/盎司，突破 了8月初创下的3534.1美元/盎司的历史高点。而国内期货市场上，沪金主力合约2510早间 也大涨，盘中突破800元/克。 过去一周，金价持续上涨，现货黄金周内涨超80美元/盎司，涨幅超2%，同时创下近四个 月新高。COMEX黄金近一周也持续上涨，今日盘中站上3500美元关口。 受此影响，国内品牌金饰价格也达到近期高点。中新经纬9月1日查询发现，周大福金饰价 格为1027元/克，单克一周涨了18元；老庙黄金价格为1023元/克，单克一周涨了16元； 周六福足金999为1000元/克，一周上涨15元/克；老凤祥为1025元/克，单周上涨15元/ 克；周生生价格为1025元/克，单周上涨15元/克。 美国银行的分析师指出，有两个重要原因推高国际金价：一是美联储主席鲍威尔8月22日在 杰克逊霍尔全球央行年会上发言暗示即使美国通胀存在上行风险，美联储仍对降息持开放态 度后，市场对美联储9月降息的预期大幅升温，国际金价再次收于每盎司3400美元上方； 二是近期美联储理事库克遭特朗普免 ...

Report Summary 1. Report Industry Investment Rating No relevant information provided. 2. Core Views - Overseas: In July, US personal consumption expenditure showed resilience with a 0.5% month - on - month increase and a 0.3% real growth. PCE inflation remained at 2.6% year - on - year, while core PCE rose to 2.9%, highlighting core inflation pressure. The market's probability of a 25BP Fed rate cut in September remained at 87%. Trump's attempt to fire Fed理事Cook led to a legal battle. The dollar index fluctuated, US bond yields declined, gold prices rose, and stocks, copper, and crude oil all increased. This week, focus on US August non - farm payrolls, ISM manufacturing data, and Fed personnel issues [2]. - Domestic: In August, the manufacturing PMI slightly increased to 49.4 but remained in the contraction range. New orders and new export orders were weak, and the "anti - involution" policy pushed up price indices, alleviating deflation pressure. The non - manufacturing PMI rose to 50.3, with the service industry PMI reaching a yearly high. A - shares fluctuated, and the bond market was weak. As the domestic important node approaches, market divergence is expected to increase, and the window for peak stock market risk appetite may be approaching. This week, focus on the SCO Summit [2]. 3. Section Summaries Overseas Macro - 7 - month US PCE: Overall in line with expectations, with energy and food items falling, core goods cooling, and core services warming. The market's probability of a September rate cut remained at around 87% [4][5]. Domestic Macro - August Manufacturing: The PMI slightly increased but was still in the contraction range. Supply and demand improved, "anti - involution" pushed up prices, and there was raw material restocking and finished - product destocking. The service industry's PMI rose to a yearly high, while the construction industry was at a low level [7][8]. Asset Performance - Equity: A - shares, Hong Kong stocks, and overseas stocks showed different trends. A - shares fluctuated, with the Shanghai Composite Index reaching a ten - year high, but the market's money - making effect was not strong [11]. - Bond: Domestic and overseas bond yields changed. In the domestic market, 10 - year and 30 - year bond yields were at 1.78% and 2.01% respectively, and in September, government bond issuance may pressure the bond market [2]. - Commodity: Different commodities had different price trends. Gold and silver prices rose, while crude oil prices showed a mixed performance [17]. - Foreign Exchange: The US dollar index and exchange rates of major currencies changed. The US dollar index fluctuated, and the US dollar weakened against the RMB [19]. High - Frequency Data - Domestic: Data on congestion, subway passenger volume, real estate transactions, and passenger car sales were presented, but no specific analysis was provided [21]. - Overseas: Data on retail sales, unemployment claims, and financial conditions were presented, but no specific analysis was provided [26]. This Week's Key Data and Events - A series of economic data from China, the eurozone, and the US will be released this week, including PMI, CPI, employment, and trade data [29].

突破3500美元关口 国际金价迎来五连涨 中新网北京9月1日电(记者 左雨晴) 在前一个交易日突破3500美元关口后，国际金价在9月1日继续上涨 势头。截至17:00，COMEX黄金最高触及3557.1美元/盎司，最高涨幅1.17%；伦敦现货黄金最高触及 3489.852美元/盎司，涨幅约1.25%。 值得一提的是，今年以来涨幅远超黄金的白银也站上了历史高位。9月1日，现货白银突破40美元/盎司 整数关口，刷新了2011年以来的新高。 "白银是重要的工业生产原料，特别是在新能源汽车、光伏等新兴领域的需求增长较快，导致供需缺口 不断放大，推动银价以更快速度上涨。"王有鑫指出，与黄金相比，白银价格上涨除了受流动性和避险 情绪影响，还受工业生产需求增多等因素影响。同时在贵金属价格同步上涨背景下，由于白银市场规模 远低于黄金市场，因此更容易被投机资金炒作。(完) 来源：中国新闻网 编辑：王永乐 广告等商务合作，请点击这里 本文为转载内容，授权事宜请联系原著作权人 受国际金价上涨影响，国内金饰价格跟涨。9月1日，周大福、周大生、潮宏基足金首饰价格上涨至1027 元/克，较前一日每克上涨12元，较上周每克上涨18元。 记 ...

9月1日，COMEX黄金期货再创历史新高，盘中一度超过3557.1美元/盎司。截至记者发稿，COMEX黄 金期货价格回落至3542.4美元/盎司，涨0.75%；SHFE黄金期货价格站上800.56元/克，涨2.08%。 兴业期货认为，当前金银比已回落至近三年中枢附近，白银价格将跟随金价波动。 国内品牌金饰价格也达到近期高点。如周大福金饰价格为1027元/克，较上周8月25日1009元/克涨18元/ 克；老庙黄金价格为1023元/克，较上周8月25日1007元/克上涨16元/克；周生生价格为1025元/克，较上 周8月25日1010元/克上涨15元/克。 短期来看，刘有华认为，黄金价格出现大幅回调的风险较低。降息预期未改、地缘冲突持续等利好因素 仍在延续。从中长期而言，全球政治经济格局的演变、美元信用体系面临挑战等宏观背景，预计仍将对 黄金形成支撑，但美联储具体降息节奏、海外经济复苏态势等变量可能带来阶段性波动。 深圳市前海排排网基金销售有限责任公司研究总监刘有华对《证券日报》记者表示，金价近日再度突破 3500美元/盎司，创下历史新高，这一走势是多重因素共同推动的结果。一方面，市场对美联储降息的 预期持续升温 ...

据央视财经报道，当地时间8月29日，美国公布的最新通胀数据显示，美国7月核心个人消费支出价格指 数同比上涨2.9%。在最新通胀数据发布后，市场强化了美联储9月降息的预期，国际金价显著上涨。 对于后续走势，王红英认为，未来国际金价仍有上涨空间，有望突破4000美元/盎司。但整体上涨的同 时也容易发生价格回调，建议投资者切勿盲目追高，待价格回调时，酌情分批分量买入黄金。 针对今日金价上涨，中国（香港）金融衍生品投资研究院院长王红英告诉红星资本局，一方面与市场对 于美联储预期9月大概率降息有关；另一方面，地缘政治冲突持续，促使避险资金持续涌入黄金市场； 此外，各国央行仍在不断增持黄金。 9月1日消息，国际金价再度大涨，伦敦现货黄金盘中一度突破3489美元/盎司，逼近4月历史高点。 COMEX黄金期货同步上涨，盘中最高涨至3557.1美元/盎司，再创历史新高。 紧跟金价上涨步伐，国内金饰品报价也水涨船高，部分品牌足金克价突破1000元。例如，周大福 （01929.HK）、周大生足金饰品价格为1027元/克，单日上涨1.18%；老庙黄金价格为1023元/克，单日 上涨0.79%。 ...